Saudi Aramco IPO proceeds rise to $29.4b after option exercised

Saudi Aramco IPO proceeds rise to $29.4b after option exercised

REUTERS/Hamad I Mohammed/File Photo

The proceeds from Saudi Aramco’s record initial public offering have risen to $29.4 billion after the oil company exercised an option to sell 15% more stock, an executive at one of the banks leading the deal told Al Arabiya news channel on Monday.